Saturday, 7 February 2015
Friday, 30 January 2015
John Maynard Keynes Analysis, Summary and Review
The General Theory of Employment, Interest and Money ( 1936 )
"The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds."
“All production is for the purpose of ultimately satisfying a consumer.”
“Two pyramids, two masses for the dead, are twice as good as one; but not so two railways from London to York.”
“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
“The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.”
“Too large a proportion of recent "mathematical" economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.”
“Once doubt begins it spreads rapidly.”
“The right remedy for the trade cycle is not to be found in abolishing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us permanently in aquasi-boom.”
John Maynard Keynes wrote this classic in the times of widespread pessimism. It is considered as foundation of modern macroeconomics. And it is still relevant 8 decades since it’s first publication.
Golden nuggets –
· Economies will often face decreasing demand resulting in involuntary employment.
· Self-correction usually takes time and is painfull.
· Government interventions can improve situation faster and can alleviate pain.
· First private and then public spending can be increased to increase demand.
· Burst in business cycle can be prevented by income redistribution.
“ Was he not the man who had had the courage to protest against the economic clauses of the peace treaties of 1919? We admired the brilliantly written books for their outspokenness and independence of thought, even though some older and acuter thinkers at once pointed out certain theoretical flaws in his argument. And those of us who had the good fortune to meet him personally soon experienced the magnetism of the brilliant conversationalist with his wide range of interests and his bewitching voice.”
· Friedrich Hayek
“If you were going to turn to only one economist to understand the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his diagnosis of recessions and depressions remains the foundation of modern macroeconomics. His insights go a long way toward explaining the challenges we now confront.”
· N. Gregory Mankiw
“Over the past 70 years The General Theory has shaped the views even of those who haven’t heard of it, or who believe they disagree with it. A businessman who warns that falling confidence poses risks for the economy is a Keynesian, whether he knows it or not. A politician who promises that his tax cuts will create jobs by putting spending money in peoples’ pockets is a Keynesian, even if he claims to abhor the doctrine. Even self-proclaimed supply-side economists, who claim to have refuted Keynes, fall back on unmistakably Keynesian stories to explain why the economy turned down in a given year.”
· Paul Krugman
Thursday, 3 April 2014
How to attempt Paper and prioritising in SSC CGL Tier 1
In previous posts we discussed important areas in different sections of CGL Tier 1 paper. Here we will see section prioritising list, i.e. - which section to attempt first.
1 - Reasoning
2 - English
3 - General Studies
4 - Quantitative
One of my friend and faculty member in a coaching institute suggested attempting General Studies section first. Reason he give behind his advice is " General studies takes very little time to attempt." And his suggested order of attempt is as follows -
1 - General Studies
2 - English
3 - Reasoning
4 - quantitative
Second list is based on time factor. i.e. - In normal circumstances the section that consumes less time gets high priority. First list is based on ( Time + Brain ). In exam hall reasoning section opens and activate the mind of examinee. It also develops a rational and logical mind so you can attempt upcoming sections well and without emotional biases and prejudices. So first list is my personal advice for you if you are confident in all sections.
In the last, You are free to follow any of the two lists or your own customised priority list.
In next posts we will discuss some important questions for quantitative section. Till then Have a good day.
In the last, You are free to follow any of the two lists or your own customised priority list.
In next posts we will discuss some important questions for quantitative section. Till then Have a good day.
Top 5 Areas For SSC CGL Reasoning Tier 1 ( Important Areas )
Hope You will get benefited by concentrating on these areas -
1 - Series
2 - Coding
3 - Non Verbal
4 - Arrangement
5 - Logic
1 - Series
2 - Coding
3 - Non Verbal
4 - Arrangement
5 - Logic
Top 5 Areas For SSC CGL English Tier 1 ( Important Areas )
In last post we discussed "Top 5 areas for SSC CGL GENERAL STUDIES ". Today, I am giving you top areas for English.
Hope You will get benefited by concentrating on these areas -1 -Synonym/ Substitution/ Antonym
2 -Fill in blanks
3 -Comprehension
4 -Sentence Correction
5 -Sentence Improvement
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